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Rooster Talk: Discovery time – Galileo drilling at Fraser Range nickel project

Galileo Mining Ltd (ASX:GAL) is a resources company listed on the Australian Securities Exchange and is exploring for base metals in southeast Western Australia. The company has 100% ownership of its Norseman Project and has joint ventures with the Creasy Group over highly prospective tenements in the Fraser Range.

The Norseman Project is adjacent to the regional town of Norseman in an infrastructure-rich area of Western Australia. A bitumen highway runs parallel to the project area and is less than 10 kilometres from the companys current JORC cobalt-nickel resources. The Norseman Project includes numerous areas with potential for further cobalt discoveries as well as additional nickel and copper prospects.

Nova nearology[hhmc]
The Fraser Range Project covers two zones of the extensive Fraser Range geological belt. The Fraser Range is known for the world-class Nova nickel-copper-cobalt mine discovered by Sirius Resources in 2012.

Galileos northern Fraser Range tenement is 80 kilomet..

Galileo Mining Ltd (ASX:GAL) is a resources company listed on the Australian Securities Exchange and is exploring for base metals in southeast Western Australia. The company has 100% ownership of its Norseman Project and has joint ventures with the Creasy Group over highly prospective tenements in the Fraser Range.

The Norseman Project is adjacent to the regional town of Norseman in an infrastructure-rich area of Western Australia. A bitumen highway runs parallel to the project area and is less than 10 kilometres from the companys current JORC cobalt-nickel resources. The Norseman Project includes numerous areas with potential for further cobalt discoveries as well as additional nickel and copper prospects.

Nova nearology


The Fraser Range Project covers two zones of the extensive Fraser Range geological belt. The Fraser Range is known for the world-class Nova nickel-copper-cobalt mine discovered by Sirius Resources in 2012.

Galileos northern Fraser Range tenement is 80 kilometres from the operating Nova mine while the southern tenements are just 30 kilometres from the mine. Galileo is targeting Nova style nickel-copper-cobalt mineralisation in the Fraser Range and has a deep level of experience in the region.

The company was originally privately owned by renowned prospector Mark Creasy and Galileo managing director Brad Underwood spent eight years as general manager of the Creasy Groups exploration at the Fraser Range and at Norseman.

Galileo Mining listed on the ASX in May 2018, raising $15 million in IPO funding.

Creasy continues to be the largest shareholder, controlling approximately 31% of the company. ASX-listed miner IGO Ltd (ASX:IGO) and Mineral Resources founder Chris Ellison are included within the companys top five largest shareholders.

Galileo key milestones:

  • 2003 – Registered as a private company wholly-owned by Mark Creasy
  • 2004 – Acquired the Norseman project
  • 2006 – Initial drilling conducted at Norseman
  • 2017 – Maiden JORC Resource completed at Norseman
  • 2018 – Acquired interest in the Fraser Range project
  • 2018 – Launched on the ASX as a public company

Moment of truth

Since the first Coffee with Samso in May, Galileo has been very active in preparing for this moment of drilling targets. We speak of the 'Truth Machine' being what all projects need or fear. In this case, I do believe that this will bring exciting times for shareholders.

Brad Underwood has been preparing these projects with desktop surveys, geochemistry and geophysics. The obvious next step is to drill the targets identified.

Strong newsflow


Brad tells us that there will be coming news for the next six months. He also tells us about how the geophysics is clean, meaning that the country rocks are not compromising the results.

Since preparing for the first Coffee with Samso with Brad, I have come to appreciate how unique this area is compared to your normal nickel project. When Brad talked about the unique metal composition, more copper, I think there are more discoveries left in the Fraser Range.

For further information about Coffee with Samso and Rooster Talks visit: www.samso.com.au

Samso is primarily a consulting company that delivers digital information to the market in terms of creating organic content. Samso simplifies your story to customerRead More – Source

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De Grey Mining confident Hemi gold discovery has tier-1 production potential

De Grey Mining Limited (ASX:DEG) is Australias fastest-growing gold company, with the recent Hemi discovery in Western Australia and strong newsflow reflected by their market cap which is now around A$1 billion.

The Hemi discovery sits within the Mallina Gold Project and is a new style of mineralisation in the Pilbara region – intrusion-hosted, large-scale and close to the surface with grade continuity. It is also is largely underexplored with district-scale upside.

Relatively unexplored[hhmc]
While it has the same geological setting as the Yilgarn Craton, which has a very mature exploration history of more than 120 years, the Pilbara Craton has only been actively explored for the last 20 years.

The company is confident the region could host new shallow discoveries, unlike in the Yilgarn where new discoveries are only expected at depth.

This represents a significant opportunity for De Grey with the immediate growth strategy linked to increasing gold resource, extending deposits, an..

De Grey Mining Limited (ASX:DEG) is Australias fastest-growing gold company, with the recent Hemi discovery in Western Australia and strong newsflow reflected by their market cap which is now around A$1 billion.

The Hemi discovery sits within the Mallina Gold Project and is a new style of mineralisation in the Pilbara region – intrusion-hosted, large-scale and close to the surface with grade continuity. It is also is largely underexplored with district-scale upside.

Relatively unexplored


While it has the same geological setting as the Yilgarn Craton, which has a very mature exploration history of more than 120 years, the Pilbara Craton has only been actively explored for the last 20 years.

The company is confident the region could host new shallow discoveries, unlike in the Yilgarn where new discoveries are only expected at depth.

This represents a significant opportunity for De Grey with the immediate growth strategy linked to increasing gold resource, extending deposits, and making more Hemi-like discoveries close to established mining infrastructure in the region.

Hemi gold system


The Hemi system consists of three main deposit areas – Brolga, Aquila and Crow.

Large potential extensions to Aquila and Brolga have been identified from drilling with four rigs currently drilling extensional targets.

At Aquila, results include 33 metres at 1.5 g/t with the potential to extend the strike by 50% to more than 1,200 metres.

At Brolga, new extensions were recently reported with results from aircore drilling of 16 metres at 2.4 g/t with the southern extension currently around 1,000 metres long by about 200 metres wide and open.

Further aircore results are pending while more RC drilling is planned at both deposits.

At Crow deposit, the company is targeting an area up to 400 metres wide and 1,000 metres of strike with RC drilling planned and early-stage step-out drilling underway.

The company believes that further drilling will determine the scale of any future open pit mine which may have significant operating cost benefits.

Further drilling will determine the scale of any future open pit mine which may have significant operating cost benefits.

Brolga recoveries


Initial metallurgical test-work on Brolga mineralisation achieved recoveries of:

  • 96.3% from fresh rock using flotation, oxidation and carbon in leach (CIL); and
  • 93% in oxidised using CIL.

Results from a broader metallurgical test-work program are expected later in the current quarter.

Finding the next Hemi


De Grey has identified four lookalike mineralised intrusions within 10 kilometres of Hemi called Scooby, Antwerp, Shaggy and Alectroenas.

Two rigs are testing targets at Scooby and Antwerp and a detailed aeromagnetic survey has been completed over the prospective 30-kilometre zone.

Modelling, interpretation and a targeting study are well advanced and the company is now in the position to accelerate drill testing.

Regional intrusions


A total of eight known intrusions have been identified throughout the overall project area and seven are mineralised. Four of these are mineralised in the Hemi corridor.

More than 20 new magnetic features have beeRead More – Source

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S&P/ASX 200 drops 2.4% this week over worries of rising COVID-19 cases worldwide

S&P/ASX 200 (INDEXASX:XJO) closed 0.6% down today following news of another 288 COVID-19 cases in Victoria, a new daily record, and US futures also sliding into negative territory.

The biggest losses have been among the likes of energy and materials following a 2-3% fall in oil prices in overnight trade.

This weighed on local oil and gas producers with Oil Search (ASX:OSH) down the most with a loss of 4.1% while Woodside (ASX:WPL) and Origin Energy (ASX:ORG) dropped more than 2.2%.

COVID-19 update[hhmc]
306 new COVID-19 cases were recorded across Australia today, with Victoria, New South Wales, Western Australia and the Australian Capital Territory all seeing a rise in new infections.

In the US, more than 60,500 new COVID-19 infections were reported on Thursday, according to Reuters, setting a new one-day record.

As infections rose in 41 of the 50 states over the last two weeks, the US has become increasingly divided on issues such as the reopening of schools and businesses.

Top ..

S&P/ASX 200 (INDEXASX:XJO) closed 0.6% down today following news of another 288 COVID-19 cases in Victoria, a new daily record, and US futures also sliding into negative territory.

The biggest losses have been among the likes of energy and materials following a 2-3% fall in oil prices in overnight trade.

This weighed on local oil and gas producers with Oil Search (ASX:OSH) down the most with a loss of 4.1% while Woodside (ASX:WPL) and Origin Energy (ASX:ORG) dropped more than 2.2%.

COVID-19 update


306 new COVID-19 cases were recorded across Australia today, with Victoria, New South Wales, Western Australia and the Australian Capital Territory all seeing a rise in new infections.

In the US, more than 60,500 new COVID-19 infections were reported on Thursday, according to Reuters, setting a new one-day record.

As infections rose in 41 of the 50 states over the last two weeks, the US has become increasingly divided on issues such as the reopening of schools and businesses.

Top gainers


Todays top gainers on the ASX include VIP Gloves Ltd (ASX:VIP) (+10.00%), Artemis Resources Ltd (ASX:ARV) (+14.29%), Comet Resources Limited (ASX:CRL) (+13.33%), Esense-Lab Ltd (ASX:ESE) (+11.11%) and Archtis Ltd (ASX:AR9) (+12.50%).

Proactive news headlines:

Legend Minings ongoing hits of thick, massive nickel-copper sulphides are highly encouraging: Euroz


Legend Mining Ltd (ASX:LEG) recently added to the robust nature of Mawson prospect within the Rockford Project in WAs Fraser Range with an intersection of 4.5 metres at 3.05% nickel, 2.32% copper and 0.19% cobalt – the best grades to date. Euroz has reiterated its speculative buy rating for Legend with a price target of 30 cents per share (current price: 14 cents) after the recent high-grade drilling results.

Red River Resources sets new quarterly copper production record


Red River Resources Limited (ASX:RVR) has achieved record copper production at its Thalanga Operation in Northern Queensland for the quarter ending June 30, 2020. An increase in copper grade of ore milled to 1.0% and a record copper recovery to copper concentrate of 84.7% resulted in quarterly production of 2,697 tonnes of high-quality copper concentrate, compared to 2,310 tonnes in the previous quarter.

Andromeda Metals' maiden halloysite-kaolin reserve supports 26-year mine life


Andromeda Metals Ltds (ASX:ADN) 12.5 million tonnes maiden ore reserve at Careys Well deposit within the Poochera Halloysite-Kaolin Project JV in South Australia supports a 26-year mine life at an annual mining rate of 500,000 tonnes. The reserve of bright white kaolinised granite in the probable category comprises 15% halloysite and 78% kaolinite in the minus 45-micron fraction.

Bellevue Gold fields strong support for $100 million placement, reflecting quality of project


Bellevue Gold Ltd's (ASX:BGL) $100 million fully underwritten share placement has been strongly supported on the back of its impressive gold story with firm commitments from institutional investors for the issue of 100 million new shares at $1.00 per share. There was strong demand from domestic and offshore institutions with the book multiple times covered over the placement amount.

Creso Pharma wins second purchase order from Israels Univo for premium medicinal cannabis flower


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Australia

Legend Minings ongoing hits of thick, massive nickel-copper sulphides are highly encouraging: Euroz

Legend Mining Ltd (ASX:LEG) recently added to the robust nature of Mawson prospect within the Rockford Project in WAs Fraser Range with an intersection of 4.5 metres at 3.05% nickel, 2.32% copper and 0.19% cobalt – the best grades to date.

Euroz has reiterated its speculative buy rating for Legend with a price target of 30 cents per share (current price: 14 cents) after the recent high-grade drilling results.

The stockbroker believes on-going hits of thick, massive nickel-copper sulphides are highly encouraging in terms of the evolution of a major new discovery.

The following is an extract from Euroz research update on Legend:

Assay Results from RKDD015 and RKDD018 at Mawson
Key Points[hhmc]

LEG has announced assay results received from diamond drillholes RKDD015 and RKDD018 at Mawson;
We highlight the consistency of these results with those that gave rise to the original discovery hole (#7) and that otherwise occur proximal to the ongoing following massive sulphide intersections ..

Legend Mining Ltd (ASX:LEG) recently added to the robust nature of Mawson prospect within the Rockford Project in WAs Fraser Range with an intersection of 4.5 metres at 3.05% nickel, 2.32% copper and 0.19% cobalt – the best grades to date.

Euroz has reiterated its speculative buy rating for Legend with a price target of 30 cents per share (current price: 14 cents) after the recent high-grade drilling results.

The stockbroker believes on-going hits of thick, massive nickel-copper sulphides are highly encouraging in terms of the evolution of a major new discovery.

The following is an extract from Euroz research update on Legend:

Assay Results from RKDD015 and RKDD018 at Mawson

Key Points

  • LEG has announced assay results received from diamond drillholes RKDD015 and RKDD018 at Mawson;
  • We highlight the consistency of these results with those that gave rise to the original discovery hole (#7) and that otherwise occur proximal to the ongoing following massive sulphide intersections as follows;
  • RKDD018:
    • 19.2m @ 1.69% Ni, 1.23% Cu, 0.09% from 97.9m (incl. 4.5m @ 3.05% Ni, 2.32% Cu, 0.19% Co from 103.7m;
    • 34.65m @ 0.51% Ni, 0.35% Cu, 0.03% Co from 130.7m;
  • The grades contained in the above 4.5m intercept in hole 18 are the best seen to date at Mawson;
  • RKDD018 was designed to test the eastern extension of sulphide mineralisation in both the upper disseminated and lower massive sulphide intervals intersected in RKDD008;
  • Of particular note was the “leopard textures” encountered. Per the Voiseys Bay analogue, leopard textures are considered to indicate close proximity to an ultramafic intrusive source;
  • RKDD015:
    • 73.5m @ 0.32% Ni, 0.29% Cu, 0.02% Co from 87.5m;
    • 24.3m @ 0.22%, Ni 0.26% Cu, 0.02% Co from 279m;
  • RKDD015 was designed to test the northern extension of massive sulphide mineralisation in RKDD011 and the eastern extension of the upper sulphide zone in RKDD007;
  • LEG is progressing its 3,000m RC drilling programme over the next month;
  • We anticipate an extension of the program with further positive results and incorporation of diamond tails where warranted, with diamond drilling to follow in a success case;
  • The aircore anomalism continues to build in the eastern shadow of the main gravity feature;
  • We note substantial infill on the previous update, that is exhibiting a coherent cluster of geochem anomalism immediately adjacent to the main gravity features;
  • Furthermore, 2D modelling of these gravity features suggest densities consistent with mafic and ultramafic packages that to date appear to be possible sRead More – Source
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